Wednesday, December 9, 2009

Their fiscal losses are covered by YOUR WALLET

" The Obama administration will tell Congress Wednesday that it expects to lose about $30 billion of the $82 billion government bailout of the auto industry.

Gene Sperling, senior counsel to Treasury Secretary Timothy Geithner, confirmed in an interview late today that the administration's forecast is that it will lose $30 billion on its auto investments -- but that's down from an earlier estimate of $44 billion.

"The real news is the projected loss came down to $30 billion from $44 billion," Sperling said, noting that auto sales have improved ahead of what many analysts had forecast. The administration still holds out hope that if things improve, the administration could still recover more.

"It was right decision then and the right decision now," Sperling said, calling it a "courageous decision by the president" to give the two automakers a "rebirth even though he knew it was not going to be politically popular.""

---How was the Auto Industry Bailout the right decision? Where and how does it make good/rational sense to give my money I earned to a private company?

I am afraid Aaron Russo is right..We already are a Socialist/Fascist Country..We just haven't realized it yet..$30B-loss-on-auto-bailout

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